Episode 10: The Right Experience Really Matters

ABOUT THIS EPISODE

On this episode of the Build Your Life Podcast with Financial Expert John Browning, we're chatting about the experience you should expect from your financial expert.

Is education or experience more important? What if your advisor has made mistakes in the past? Does this make them better or worse? Tune in for the exploration of all of these questions and more!

For more information, visit www.GuardianRockWealth.com to learn more about what John can do for you.

Welcome to the building your life podcast with John Browning. Building your life is a relaxed and unedited conversation with financial expert John Browning. Well, Hello John, welcome back to your podcast. How are you, sir? I'm doing fine. How about you? I'm doing great. Love and life, living the dream, as I say. All right, hey, let's talk. We talked last time about how to choose an advisor on the last episode and you have some great questions that people can ask and we really talked about just picking up the phone, having a conversation, doing zoom interviews and building a relationship. One of the one of the things that you alluded to in that last episode, and let me encourage people to go back and listen to if they missed it, but we're some of the mistakes that that you've made and how those mistakes. That's where some of your greatest learning has come from, because you've got a four year degree, you've got an NBA, you've got all these certificate and numbers and letters behind your name, but you said in the last episode that you probably have learned more through your experience then you have...

...in those classes in the books, and I think that's true for all of us right, but let's talk about that. What are some of the experiences that makes you aigrade advice adviser? It's this is uncomfortable. You're making me. You're making me think about the things that I did wrong. I don't like that. That's awesome, but it is true. It's you know, I think you know. I think back to when I first started in the financial services industry. I got a job with a few really large financial firm to start out, and when you come out of four years of constant learning, you feel pretty good about yourself and and you feel like you're pretty darned smart. You made pretty good grades and and then you didn't. Reality Hits and you get a customer service job, which doesn't seem nearly as glamorous as what you're planning on. You know, you for some reason, everybody out of college, and I get it. I was the same way. This sort of feels like they should run the company when they R I've learned so much with all these books, but in reality I started out in customer service...

...and I was a little disappointed, you know. I was like, I thought I should get a bigger job, but interestingly enough, I still draw on the experiences that I got in the customer service department and learn the importance of details, and I learned about the emotions of people and their relationship with their money and how important that was. And and to get things right, at things right the first time and set things up the right way. You know from there. You know you put in your time and you you volunteer for extra, extra things at the office and you do special projects and you make mistakes on those special projects and the manager says, what in the world are you doing? Do it this way, and you learn that way and eventually you kind of you move slowly up that ladder and eventually you're suddenly in front of an investment committee for portfolios that are being run at a big financial...

...institution and you have to present and you prepare all night long for several nights in a row, and then these guys who were much more experienced than you pick up heart your whole story right and make you feel like you didn't do anything. And and so I learned from those mistakes how to be very, very thorough in my research and my thoughtfulness and and things like that. And then eventually you get to the point where you're actually pulling the trigger and managing the portfolios, designing the portfolios to accomplish certain goals, and you actually make a trade and you didn't pay attention to the detail on it or you were just wrong. You're right, you just you know, you were just wrong, and you learn the power of diversification and why you can be so sure that a particular investment is just great and you can be dead wrong. I don't know if you've ever had that experience with other part of your life, but you can be absolutely certain that you're right. And so then you learn...

...the value of diversification, asset allocation and considering. There's a there's a great quote. I forget who was, but consider for a moment the idea concept that you might be wrong. And so my career, my career, has been a very humbling experience and I always, I literally always an I don't use that word very much, consider the fact that I may be wrong, and that's how I that's how I run things. That's awesome. Why those? Those are great stories and I think we can all relate to that. Let's let's talk a little bit about and ideal client for you. Okay, so you've got all these experiences and things. Who would be an ideal client if you could just describe them? And ideal client for us is a client that isn't afraid to ask a question. They're not afraid that they're going to look dumb or whatever they they're afraid, whyever they might be afraid to ask...

...a question, that they'll ask those questions no matter how elementary they may seem or, frankly, how sort of in your face and blunt they may seem. You know, I don't want a client that's just nice and trying to make me feel good. I want a client to ask me, why did you make that decision? Because I should have an explanation for that. That's right. Every action that I take I should have an absolute reason that I that I've done that, and I think to a client that the same way has that idea that they may be wrong right, that they're at least a little bit humble. It doesn't mean that that we don't we want confident people, but we want those folks that that are are willing to delegate, and that's what they hired us for, because I have had clients in the past that when I would make you know, I would make a trade in their portfolio. They wanted to have a lot of input into that and and that you know, frankly, it takes too much time. Yeah, and it...

...takes time away from others, that being my help. So if you if you do want to run the portfolio on your own, again, I caution against that. If it's not your full, full, full time job and if you don't have the experience and you haven't made those mistakes, I caution against it. But if you're not really truly not willing to delegate, then you know it's we're probably not a good fit. That's right. Yeah, I've got I've got two or three recommendations of people you can work with. Yeah, you're good. Yeah, and that's good. Is Fine. Yeah, and on the on the question asking thing. You know what popped into my head is yeah, but I don't want to offend you, I don't want to make you sad, I don't want to hurt the relationship. I'd rather be sad and a little offended right now then to find out, you know, six, eight, ten, twelve months down the road, that you're dissatisfied and that I'm not doing what you wanted me to do. Not accomplishing your objectives as you wanted them to be accomplished. Let's have that conversation right up front. Yeah, I think that's great. Somebody related that to...

...me years ago, in the idea of an actor going on stage and doing their thing and the director pulling them off and say no, I want you to do it this way, giving them correction on their performance. Separating that from now, I love you as a person. That has you know how I respect you as a person has nothing to do with how you perform on stage. I think the same thing is true with you. If I'm going to I'm going to like you as a person. John, I've bet a question about why you made the decision. Help me out with that. Those are two different things, right. So I might ask that question. How in the freedom of knowing that my question has nothing with you personally. It's about what's going on professionally, and we need to be on the same page. And guess what, most time to bet, after you explain to me, I'm going to say, oh well, that makes total sense now, because you've always have a reason for doing what I did and if I don't that I'm not doing my job or that's right. And but it goes back to relationship, which you've talked about on many, many episodes, and goes back to communication, which you've talked about on many, many episodes. It...

...goes back to understanding your client and your client understanding you and having that trust that you're going to be here for a long time. This is not a you know, you don't take a short term sprint mentality. You get a marathon mentality on this thing and that's why you help your finds do so well. And that's why we want to encourage people to give you a call and read your book and get to know who you are and how you function and you and your team, because it's a big deal to choose an advisor and to understand how you can make sure that I'm getting the best out of you, and that's through questions, is through communication. Right, YEP, that's exactly right. That's awesome. Well, I want to encourage people to get a copy of your book. Go to your website and get a free copy of your book, pick up the phone and call John. He'll he's happy to talk with you on the phone, have a zoom interview, meet with you, whatever it takes to begin that relationship, because John's here to help you build a life, not just a portfolio, and to understand where you are and your concerns, your emotions, your fears, your hope, your...

...dreams, all of that. But but it all starts really with just connecting with him. So just invite you to reach out to John. I'll go to his website, give him a call and start building that relationship and asking him some of those hard questions that making squirm, because he really does like that and he's got the right answers. John. Thanks again, Dude. I appreciate you being here, thanks for your your consistency, not just in the podcast in gre giving great information, but your consistency and how you serve your clients, because what you do is really, really cool, really needed, because a lot of us just don't understand it and we have full time jobs. We don't want to try to understand the financial world. You do a great job of that and I know that building value and your clients and building that relationship is really, really a top for you. So I appreciate that. Sure thing. Okay, you have a great rest of your week and we will talk again on the next podcast and we'll talk a little bit...

...more about mistakes and how we all learn from that and how those mistakes are really beneficial for us. Okay, all right, sounds great. All Right, talk soon. So thanks for listening to the building your life podcast was John Brownie. Be Sure to subscribe to this podcast so each new episode will be sent to you automatically when it is released. Have a terrific day.

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